Technology and Internet
More on the plate: New raise puts Swiggy valuation at $5.5 billion
21 Jul 2021
The funding includes a first tranche of $800 million infused by a clutch of investors which the firm had announced internally in April and a fresh $450 million investment made by SoftBank Vision Fund 2 which is making its first bet in the Indian online food delivery space.
Food delivery platform Swiggy on Tuesday said it has closed a chunky $1.25-billion funding round led by SoftBank Vision Fund 2 and existing backer Prosus. The investment increases the valuation of the start-up firm to $5.5 billion from the $3.3 billion it had achieved in its last big funding round in 2018.
The funding includes a first tranche of $800 million infused by a clutch of investors which the firm had announced internally in April and a fresh $450 million investment made by SoftBank Vision Fund 2 which is making its first bet in the Indian online food delivery space.
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